Los Angeles Lakers superstar LeBron James is successful on and off the court, and his entertainment company hit the skyline again. The good news? The king of basketball won’t stop here. He is doing an excellent job and we have at least one good reason to believe that the best has yet to come.
The SpringHill Co. has a deal for a group led by RedBird Capital Partners to get a nice minority stake in the company. This deal includes Boston Red Sox owner Fenway Sports Group, Nike, and Epic Games. LeBron’s company is worth $725 million.
We don’t have more information about this deal but we do know that LeBron was really excited about it. The four-time NBA champion took to his Twitter to share the great news.
“The diversity and empowerment of our team is what we’re all about!! I love every 141 souls of creators we have in at @TheSpringHillCo! I beyond proud to lead you guys everyday,” LeBron said on Twitter. “Oh by the way @mavcarter you’re simply INCREDIBLE!! A BEAST. CEO 1.”
LeBron James and Maverick Carter had great success with their entertainment company
Sources reveal that the RedBird-led group will get about half the company. They are investing nine figures’ worth of capital to boost the business. Not bad, huh? LeBron is the company’s chairman and his partner and friend, CEO Maverick Carter, have the controlling stake.
Carter explained that this move will help the company to produce more content and maybe even invest in new projects. They can get other firms and maybe found other production companies.
The company may surpass $100 million in revenue in the upcoming 12-month period. That’s 67% up compared with the past 12 months. SpringHIll had about $60 million in sales.
Last year, the duo raised $100 million for the company from Sister and Guggenheim.
This deal is the best thing that could have happened at the moment. LeBron did an incredible job and this is just the beginning of an incredible adventure. SpringHill Co. has great potential and LeBron will get the best of it.